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Article: ROMANIA: Development plans for proposed $437,000,000 gold/silver mine, GABRIEL RESOURCES LTD. [Canada] - Order #: 041203.
- Article from:
- WWP-Report on Mining, Metal Making and Conversion
- Article date:
- April 1, 2003
CopyrightCOPYRIGHT 2003 Worldwide Projects, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROJECT OVERVIEW:
Canada-based GABRIEL RESOURCES LTD. recently completed the basic engineering-design phase regarding the development of its Rosia Montana gold/silver mine in Romania. According to the results of the company's exploration works, the property contains an estimated reserve of 217.9 million metric tons with an average grading of 1.5 gr of gold and 7.5 gr of silver per ton of ore.
Operating plans envision processing at a rate of 13.3 million tons per year. In so doing, the estimated initial capital cost to develop the deposit has been pegged at $437,000,000 including: - $53,000,000 for the mining equipment and fleet to conduct
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